ENDAPH: what changed
ENDAPH
Largest movements
- Cash +€30,341
up €30,341 (+314%), from €9,653 to €39,994
mainly Net result for the year (+€17,192) and Receivables within one year (+€15,609)
- Receivables within one year -€15,609
down €15,609 (-33.0%), from €47,235 to €31,626
of which Trade receivables: -€17,659
- Tangible fixed assets -€2,977
down €2,977 (-60.2%), from €4,949 to €1,972
- Profit (loss) carried forward +€17,192
up €17,192 (+62.2%), from €27,621 to €44,813
- Tax, wage and social debts -€3,416
down €3,416 (-53.8%), from €6,352 to €2,937
- Trade debts -€1,985
down €1,985 (-24.6%), from €8,053 to €6,069
- Financial charges -€24,288
down €24,288 (-99.7%), from €24,368 to €81
of which Non-recurring financial charges: -€24,253
- Gross operating margin -€4,323
down €4,323 (-17.6%), from €24,544 to €20,222
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,487 | €74,279 | +€11,792 | +18.9% |
| Fixed assets | 21/28 | €4,949 | €1,972 | -€2,977 | -60.2% |
| Tangible fixed assets | 22/27 | €4,949 | €1,972 | -€2,977 | -60.2% |
| Furniture and vehicles | 24 | €4,949 | €1,972 | -€2,977 | -60.2% |
| Current assets | 29/58 | €57,538 | €72,307 | +€14,769 | +25.7% |
| Amounts receivable within one year | 40/41 | €47,235 | €31,626 | -€15,609 | -33.0% |
| Trade receivables | 40 | €38,498 | €20,839 | -€17,659 | -45.9% |
| Other amounts receivable | 41 | €8,737 | €10,787 | +€2,050 | +23.5% |
| Cash at bank and in hand | 54/58 | €9,653 | €39,994 | +€30,341 | +314% |
| Deferred charges and accrued income | 490/1 | €650 | €686 | +€37 | +5.6% |
| Total equity and liabilities | 10/49 | €62,487 | €74,279 | +€11,792 | +18.9% |
| Equity | 10/15 | €48,081 | €65,273 | +€17,192 | +35.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,621 | €44,813 | +€17,192 | +62.2% |
| Amounts payable | 17/49 | €14,406 | €9,005 | -€5,400 | -37.5% |
| Amounts payable within one year | 42/48 | €14,406 | €9,005 | -€5,400 | -37.5% |
| Trade debts | 44 | €8,053 | €6,069 | -€1,985 | -24.6% |
| Suppliers | 440/4 | €8,053 | €6,069 | -€1,985 | -24.6% |
| Taxes, remuneration and social security | 45 | €6,352 | €2,937 | -€3,416 | -53.8% |
| Taxes | 450/3 | €6,352 | €2,937 | -€3,416 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,977 | €2,977 | = | 0.0% |
| Other operating charges | 640/8 | €487 | €440 | -€47 | -9.6% |
| Gross operating margin | 9900 | €24,544 | €20,222 | -€4,323 | -17.6% |
| Operating profit (loss) | 9901 | €21,080 | €16,804 | -€4,276 | -20.3% |
| Financial income | 75/76B | €386 | €529 | +€143 | +37.1% |
| Recurring financial income | 75 | €386 | €529 | +€143 | +37.1% |
| Financial charges | 65/66B | €24,368 | €81 | -€24,288 | -99.7% |
| Recurring financial charges | 65 | €116 | €81 | -€35 | -30.1% |
| Non-recurring financial charges | 66B | €24,253 | - | -€24,253 | |
| Profit (loss) for the period before taxes | 9903 | -€2,903 | €17,252 | +€20,155 | |
| Income taxes | 67/77 | €59 | €60 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€2,962 | €17,192 | +€20,154 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,962 | €17,192 | +€20,154 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.